Skip to content
Monday 10 August 2026London --:--Frankfurt --:--Zurich --:--
NewslettersSearchEN · DE
MorningWire

European business, markets and politics

FTSE 100
10,853.17
-0.44%
DAX
26,338.68
+0.07%
CAC 40
8,715.63
+0.01%
STOXX 50
6,536.02
+0.19%
  • Europe
  • Markets
  • Business
  • Economy
  • Technology
  • Politics
  • Opinion
More
GermanyFranceBankingAIEnergyFintechPropertyCapital Markets
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Economy
  • Technology
  • Politics
  • Opinion
  • DE
Monday 27 June 2022 9:34 am  |  Updated:  Monday 27 June 2022 9:51 am

HMRC: Big UK firms owe £2.7bn in unpaid VAT

By: Jack Mendel

Add as a preferred source on Google
Business support changing the tax year end date
HMRC

HMRC is missing out on a total of £2.7bn in underpaid VAT, a new study has revealed.

HMRC suspects 208 of the UK’s 2,000 largest businesses have underpaid VAT by an average of £13.4m each, according to fresh analysis by Thomson Reuters.

The study said that the £13.4m figure relates to “tax under consideration”, which is an estimate of the amount of VAT HMRC believes has gone unpaid, prior to full tax investigations being completed.

The study warned that businesses should expect HMRC to increase the number of tax investigations after the authority received an additional £292m to tackle underpayment of tax in last year’s autumn budget.

“The government has beefed up HMRC’s tax compliance capabilities and will be expecting results. Large corporates, which HMRC views as underpaying VAT, are likely to be a high priority target for investigation,” Jas Sandhu Dade, head of corporates Europe at Thomson Reuters, said.

Read more

Why HMRC is huge Premier League transfer window tax headache

Two jubilant soccer players in white England jerseys celebrate a goal on the field.

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • News

Categories

  • Morning Wire Content
  • Business
  • Money

Related Topics

  • HM Revenue & Customs (HMRC)

Trending Articles

  • Back to basics: Sainsbury’s gradual retreat from the British high street

  • Thames Water faces fresh threat to survival after pensions regulation breach

  • Hargreaves Lansdown orders staff back to office

  • FTSE 100 Live: Intel, Arm shares slide; Oil climbs higher

  • PwC’s Embankment HQ to get major makeover ahead of Canary Wharf move

More from Morning Wire

  • Why HMRC is huge Premier League transfer window tax headache

    Sport Business
    Two jubilant soccer players in white England jerseys celebrate a goal on the field.
  • Think your tax affairs are settled? Think again.

    Opinion
    HMRC
  • Wimbledon: HMRC set to slap Sinner and Noskova with £1.6m tax bill

    Sport Business
    Getty Images logo on a sleek black background, symbolizing reliable sources for high-quality stock photography and media c...
  • Gino D’Acampo restaurants face HMRC winding-up order

    Hospitality
    Gino DAcampo, smiling in a bright yellow jacket, against a dark background with GES & CO and WHSmith logos
  • Thin end of the wedge? LLPs brace for major tax overhaul

    Tax
    Canada
  • Nearly 1m people to pay higher tax ‘by stealth’

    Economics
    Tax Trap: Another 74,000 taxpayers were added to the punitive £100,000-£125,000 income bracket during the 2024/25 tax year
  • HMRC claws back £1m cutting ties with outside tech suppliers

    Tech
    HMRC overcharged pensioners thousands
  • Andy Burnham will find there is a limit to tax rises

    Opinion
    At its core, an ISA is a "tax wrapper," a protective shell that shields your money from income tax and capital gains tax.
MorningWire

Independent European business, markets and political news for decision-makers.

Morning Briefing

Europe

  • Germany
  • France
  • Europe
  • UK & Ireland

Business

  • Markets
  • Banking
  • Technology
  • Energy
  • Property
  • Fintech

Editorial

  • Opinion
  • Editorial Policy
  • Corrections
  • Contact

Company

  • About Morning Wire
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
© 2026 Morning Wire Ltd · Published by Morning Wire Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
Privacy · Terms · Cookies · Facebook